Pharma BD Deal Intelligence

Roche Holding AG / Alnylam Pharmaceuticals Inc.

2007 · Licensing/Option · $1.0B · Complete

The Street Said

Strongly positive — critic reaction at announcement

History Says

Underwhelmed — fell short of the thesis

WRONG BY 34 POINTS

RNAi bet failed completely: Roche terminated program in 2010 wrote off entire investment

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Roche and Alnylam formed a $1B+ alliance for RNAi therapeutics. Roche paid $331M upfront in cash and equity (including purchase of ~5% of Alnylam stock at $21.50/share). The non-exclusive license covered oncology, respiratory, metabolic, and liver diseases. Roche also acquired Alnylam's Kulmbach, Germany research site (~40 employees) as a new RNAi Center of Excellence. Roche later terminated the RNAi program in 2010.

Key facts

Announced Jul 09, 2007
Closed Jul 09, 2007
Deal value $1.0B
Deal type Licensing/Option
Therapeutic area Metabolic, Oncology, Respiratory
Indications Various oncology, respiratory, metabolic, and liver disease targets
Key assets Alnylam RNAi therapeutics platform, Kulmbach Germany research site
Mechanism RNA interference (RNAi) therapeutics platform

Related deals — scored

Deal	Year	Value	Outcome
Roche Holding AG / Alnylam Pharmaceuticals Inc. (this deal)	2007	$1.0B	41
Roche Holding AG / Chugai Pharmaceutical Co. Ltd.	2002	$1.4B	100
Roche Holding AG / Ventana Medical Systems Inc.	2008	$3.4B	88
Roche Holding AG / Corange Ltd. (Boehringer Mannheim Group)	1997	$11.0B	88
Roche Holding AG / Ventana Medical Systems Inc.	2007	$3.4B	88
Roche Holding AG / Foundation Medicine, Inc.	2015	$1.1B	87
Roche Holding AG / Foundation Medicine, Inc.	2018	$5.3B	85

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More: 2007 deals · Roche Holding AG deals · Metabolic deals